With over 43 percent of the population owning at least one domestic animal, the UK pet industry is thriving. Indeed, from grooming parlours and gourmet feed to accessories and state-of the-art toys, it’s possible to pamper your pet beyond belief.

But, with the country firmly in the grips of a recession, it’s time to start thinking smartly when it comes to what you spend on your beloved furry friends. And, with a bit of thought, it’s easy to reduce your pet expenditure without compromising on care.

The first issue to consider when looking at ways to save money is to identify and prioritise your pet’s needs. For instance, food is obviously of utmost importance, but does Fluffy really need to eat gourmet, hand-prepared meals every day? By switching to cheaper brands – many have been found to be just as good as their expensive counterparts – you could bank hundreds of pounds each year. Bulk buying is also a great way to cut down on costs.

It may be nice to buy your pets toys, but in reality they can be expensive and unnecessary. In fact, it’s far better to interact with your pet personally and a stick for your dog, for example, is just as good as pricey plastic replica. Equally, buying clothing for your pet might seem like a good idea, but when you’re watching the pennies, it is definitely an expense you can do without.

Grooming parlous are again a nice luxury to indulge in. However they can be very costly. Therefore, invest in a good brush and some appropriate cleaning products and do it at home. That way your pet will still stay shiny and clean and you won’t be out of pocket.

Your pet’s health is undeniably important. In this respect, it doesn’t pay to skimp here. In fact, most vets will tell you that it’s vital to take your pet for regular checkups and to ensure they have all the relevant vaccinations. It may seem expensive in the short term, but taking preventative health measures now will help to avoid bigger, and much costlier, problems arising in the future.

In this respect, pet insurance is also crucial. You may think that insurance is one item you can cut out, but the experts argue it is more important to have coverage in times of recession than at any other time. However, without the right research, you could end up paying more than you need to.

Therefore, when choosing your pet insurance, make sure it is the right one for your circumstances. There are thousands of insurance deals available: a quick internet search will help you to find the most appropriate ones. And remember, it’s better to pay out a few pounds a month on an insurance policy, than it is to have to spend thousands for an operation or surgical procedure.